In 2023, the frozen fruits and vegetables market is projected to blossom into a US$ 8.24 billion industry by 2033, reflecting a steady CAGR of 6.7%. This sector caters to a fundamental human need – safe and reliable fruits and vegetables for various applications. From the vibrant ingredients in your favorite smoothie to the sterilized base for pharmaceuticals, frozen fruits and vegetables play a crucial role across industries.
Several factors are fueling the demand for frozen produce:
- Soaring Disposable Incomes: Consumers are indulging in more specialty food and beverage items, driving manufacturers to introduce innovative formulas using frozen fruits and vegetables.
- Health and Wellness Focus: Organic frozen fruits and vegetables cater to the growing demand for natural and safe ingredients, particularly in pharmaceuticals and personal care products.
- Stricter Regulations: Stringent regulations on synthetic materials are pushing manufacturers towards natural alternatives like frozen fruits and vegetables in cosmetics and cleaning solutions.
- Expanding Beverage Industry: The increasing popularity of craft beers and premium spirits is directly linked to the demand for high-quality frozen fruits and vegetables.
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Preparation-free Food that Saves a Ton of Time Drives the Market Growth
Consumers are switching to frozen fruits and vegetables since they don’t need to be cleaned, peeled, or chopped, because of extended work hours, growing health consciousness, and the incidence of lifestyle diseases.
While maintaining a high level of nutrition, they assist in cutting down on overall cooking time. As a result, producers are introducing distinctive product versions that use herbs and spices from regional produce to diversify their product lines and draw in a wide customer base.
Growing middle-class populations, particularly in Asian nations, with rising income levels, are positively influencing the frozen fruits and vegetables market expansion. In addition, consumers now favor using their credit or debit cards to pay for their online purchases to get over regional restrictions. This is giving the market’s expansion a boost, working in tandem with the booming e-commerce sector.
Regional outlook
While the global frozen fruits and vegetables market is divided into five distinct geographical areas, including Asia Pacific, the Middle East and Africa, Europe, North America, and Latin America.
The North American region has recently led the industry in terms of the industry share. North America’s dominant position in the global market can be ascribed to the availability of strong and well-trained cold chain logistics facilities, as well as related infrastructure, in the region.
The market in Asia Pacific, on the other hand, is expected to increase at a considerable rate in future years, owing to the changing lifestyle and food preferences of the region’s consumers.
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Growth Factors: Cultivating a Future of Success
Several trends are propelling the market towards a future of robust growth:
- Product Diversification: Manufacturers are constantly innovating with new flavors, sugar-free options, and long-lasting formulas to cater to evolving consumer preferences.
- Sustainability Focus: Environmentally conscious consumers are driving the demand for eco-friendly packaging solutions for frozen fruits and vegetables products.
- Rising Pharmaceutical Applications: The growing pharmaceutical sector is utilizing frozen fruits and vegetables in sanitizers, disinfectants, and medication production.
Key Takeaways
- During the projected period, the United States frozen fruits and vegetables market is expected to be worth US$ 6.9 billion.
- China is expected to reach a market size of US$ 5.6 billion over the forecast timeline, with a CAGR of 4%.
- Japan and Canada are expected to increase at 1.4% and 2%, respectively, throughout the predicted period.
- Germany’s frozen fruits and vegetables market is expected to register a 1.8% CAGR through 2033.
- During the projection period, frozen tropical fruits accounted for more than 40.0% of the market.
- Frozen berries are predicted to record a CAGR of 7.5% between 2023 and 2033.
- During the forecast period, the offline segment I expected to dominate the market with a share of more than 80.0%.
- The online distribution channel is predicted to expand with a CAGR of 7.7% until 2033.
Competitive Landscape
The research report thoroughly examines one of the most significant producers and businesses functioning in the global frozen fruits and vegetables market, as well as their present market positioning and market share.
Some of the top companies operating in the landscape of the global frozen fruits and vegetables market include Findus Sverige AB, Simplot Australia PTY Ltd., Pinnacle Foods Corp, Bondeulle Group, SunOpta, Inc., Fruktana Ltd., Breukers Schamp Foods, HJ Heinz, Ardo N. V., Dole, General Mills, Capricorn Food Products India, Ltd., Alasko Foods Inc.
According to recent studies, there is anticipated to be intense competition in the global market during the next few years.
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Recent Developments
- In November 2021, Nestle released ‘Wildspace.’, which comprises a wide choice of healthy frozen meals packaged in reusable and recyclable containers. It provides at least six distinct types of meals.
- In September 2021, Grupo Bimbo added four frozen bakeries to its lines in the Argentina factory. This has proven to be a beneficial move as the company expands its export business in adjacent countries.
Key Segments
By Product Type:
- Frozen Vegetables
- Frozen Fruits
By Distribution Channel:
- Online
- Offline
By Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East Asia
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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